Key Takeaways
Bitcoin Magazine reports CoinCorner launched a multisig custody service insured by Lloyd's of London, partnering with AnchorWatch.
According to reporting by Bitcoin Magazine, British bitcoin exchange CoinCorner has launched a multisig custody service in partnership with U.S. partner AnchorWatch. The offering splits control of customer keys between the Isle of Man exchange and AnchorWatch, with holdings insured by Lloyd's of London.
Announced on Tuesday, the service charges a 1.5% annual fee and aims to provide cold-storage security without requiring users to manage hardware themselves. CoinCorner CEO Danny Scott stated that the Vault offers a simple non-technical setup and fully insured multi-signature custody.
The launch follows a Coldcard wallet hack that resulted in a loss of about $115 million due to a firmware bug leading to weak seed generation. Under the new service, customers can open a Vault and deposit funds, though transfers into the insured wallet typically occur on the first working day of the following month. Users can top up anytime and define their own identity verification rules before funds move, with holdings verifiable on-chain via a provided wallet address. CoinCorner stated that it is the first service of its kind globally.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
